Sackers advises the EDS 1994 Pension Scheme on its £1.1bn buy-in with PIC
The Trustee of the EDS 1994 Pension Scheme has completed a £1.1bn buy-in with PIC to fully insure the Scheme’s pension liabilities.
Ian Wilson, chair of Trustee of the EDS 1994 Pension Scheme, said: “The Trustee is pleased to have reached such a great outcome for our Scheme members which was achieved through a collaborative partnership with the Company and with the extensive support of ours and the Company’s advisers.”
Partner Jacqui Reid led the Sackers team and commented: “We are delighted to have worked closely with the Trustee and the Scheme’s other advisers on this transaction. The buy-in agreement provides certainty and security for all the Scheme’s 3,000 current and 2,300 deferred pensioners and has been secured in anticipation of a full Scheme buy-out. We thoroughly enjoyed working with all parties to achieve such an excellent outcome.”